I read an article that one guy/gal only mined in the winter and did it on a level to offset heating cost or some crazy **** like that.
Problem with Proof of Stake is only whales get to participate. Small fries have to band together. They're requiring 32 ETH to be staked, I think... I'll never be close.
The value of gold hasn't changed in thousands of years because it will always be worth almost exactly what it costs to mine it, plus the wages for the miners. So there's this inherent link between the value of gold as it relates to labor.
The value of currencies relative to gold change, and the value of goods and services change because of the availability of resources and new technology, but the fundamental value of gold hasn't really changed, when tracked over long periods of time.
I'll respectfully disagree with your opinion. The definition of "value" is relative worth, utility, importance, fair return, etc. The gold ring I bought my wife xx years ago is most certainly more valuable now if we were to sell it for currency. If the **** hit the fan and currencies meant nothing gold would most certainly be even more valuable on a whole new level.
That all depends on when you bought it. If you bought it in the late 70s, definitely not. If you bought it in the late 90s then yes. That's the value of the dollar changing, though, not gold. There's definitely some arbitrage there, but over time gold's value stays the same. It's a hedge against inflation, as opposed to an investment.
Right. Gold is only a stable way to preserve wealth as long as you can keep the gold. It is a good medium of exchange as well.
An ounce of gold will buy a good rifle today - just like it did a couple hundred years ago.
Woody
I usually hear people compare it to a fine set of clothes throughout the ages, but I like your basket of goods better.
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